More reserves found in old oil field

Feb 15, 2014 | 0 comments

One of Ecuador’s oldest oil fields will be productive for many more years than expected, according to new survey. The U.S. geological firm Ryder Scott has certified that 243 million barrels of oil remain in the ground at the Sacha production area in northern Orellana Province.

Discovered in 1969, Sacha has been one of Ecuador’s most productive oil fields but it was thought to be within several years of being pumped dry. The confirmation of the new reserves mean the field will remain producted for an additional 10 years.

Annual royalties from the Sacha field have average $2 billion over the last two decades.


Byron Quito – DentastiQ


Blue Box

Google ad

Richard Lavery

Fund Grace

Gypsy Tv

Google ad


The Cuenca Dispatch

Week of November 26 

Update: Wayra Plaza opens with all of Corporación Favorita brands under one roof.

Read more

The turbulent insecurity legacy of Guillermo Lasso’s government.

Read more

Ministry of Energy unveils new plan to battle energy shortage.

Read more

In shocking move, Vice President Abad ordered to move to Ecuadorian Embassy in Tel Aviv and become ‘a collaborator for peace’.

Read more

Subscribe to our newsletter

Cuenca High Life offers on-line publications, local translated news, and reports about the expat life and living in Ecuador. 

You have Successfully Subscribed!